The acquisition of V.Powdertech will bring new technologies and services to complement AkzoNobel’s global technology portfolio and business in various market segments, such as architectural and automotive coatings.

The transaction includes all relevant technologies, patents, and trademarks, as well as a manufacturing plant in Samutsakhon, Thailand. In addition, the employees of V.Powdertech will be joining AkzoNobel, bringing with them product and market expertise to serve an expanded customer base in the region.

“We are pleased to welcome our new colleagues to AkzoNobel. This business is an excellent strategic fit and will further strengthen our leading market position in powder coatings in Southeast Asia. With V. Powdertech’s strong brand, we will be able to offer a broader range of products and services to more customers and target new growth segments,” said Ruud Joosten, AkzoNobel’s COO of Paints and Coatings.

Completing this acquisition will secure AkzoNobel’s position as one of the largest powder coatings players in Southeast Asia. The valuable addition of V. Powdertech’s state-of-the-art manufacturing plant further strengthens AkzoNobel’s manufacturing footprint in fast growing markets in the region, providing a solid foundation to accelerate profitable growth.

The transaction is expected to be completed in the coming weeks.

AkzoNobel creates everyday essentials to make people’s lives more liveable and inspiring. As a leading global paints and coatings company and a major producer of specialty chemicals, AkzoNobel supplies essential ingredients, essential protection, and essential colour to industries and consumers worldwide. Backed by a pioneering heritage, the company’s innovative products and sustainable technologies are designed to meet the growing demands of our fast-changing planet, while making life easier.

Headquartered in Amsterdam, the Netherlands, it employs approximately 46,000 people in around 80 countries, while the company portfolio includes well-known brands such as Dulux, Sikkens, International, Interpon, and Eka. Consistently ranking as a leader in sustainability, it is dedicated to energising cities and communities while creating a protected, colourful world where life is improved by what it does.